Benefits Forward

The PBGC announces the interest rates for lump sum payments in August. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of August 2011 is 2.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for July 2011 was 2.25% for [...]

The regulation was made obsolete by provisions of the Pension Protection Act of 2006. Document Excerpt This final rule removes PBGC’s regulation on Disclosure to Participants. The regulation is obsolete as a result of the Pension Protection Act of 2006.   Link http://www.gpo.gov/fdsys/pkg/FR-2011-07-29/pdf/2011-19182.pdf

The PBGC issues a final rule regarding the payment of benefits under plans with valuation dates during August 2011. Document Excerpt SUMMARY This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in August 2011. The interest assumptions [...]

The PBGC releases the July interest rate for calculating lump sums. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of July 2011 is 2.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for June 2011 was 2.50% for lump [...]

The PBGC has released its final rule implementing the PPA provision treating a plan sponsor’s bankruptcy filing date as the plan termination date for certain PBGC purposes. Document Excerpt This final rule implements section 404 of the Pension Protection Act of 2006. Section 404 amended Title IV of ERISA to provide that when an underfunded, [...]

The PBGC has released the interest rate for valuing lump sums payable in July. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of July 2011 is 2.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for June 2011 was [...]

In response to the White House directive, the PBGC issues its Preliminary Plan for regulatory review including regulations currently under review for possible revision. Document Excerpt  This document sets forth the Pension Benefit Guaranty Corporation’s preliminary plan for the review of its existing regulations, pursuant to Executive Order 13563 on Improving Regulation and Regulatory Review. [...]

The PBGC announces the interest rate for June lump sum payments. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of June 2011 is 2.50%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for May 2011 was 2.50% for lump [...]

This final rule amends the PBGC regulation on Benefits Payable in Terminated Single Employer Plans to set forth the interest assumptions under the regulation for valuation dates in June 2011. Document Excerpt This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the [...]

The PBGC announces in Disaster Relief Announcement 11-01 relief relating to PBGC deadlines in North Carolina. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the severe storms, tornadoes and flooding that occurred on April 16, 2011, in North Carolina. Link http://www.pbgc.gov/res/other-guidance/dr/dr11-01.html